Articles filed under Natural Gas Prices

Spot gas prices for Thursday delivery continued the volatility shown in Tuesday's trading and took a big hit primarily in Midwest, Northeast and East market areas as temperatures were forecast to rise sharply before receding. Overall, next-day prices on Wednesday were down, and only a handful of points escaped the pervasive red ink. At the close of futures trading, April shed 0.9 cent to $4.402 and May was off 1.9 cents to $4.395. May crude oil jumped $1.07 to $100.26/bbl.

The multiple polar vortices and stubbornly cold weather that has dominated winter weather this year will have another impact even as temperatures turn warmer: higher bills for natural gas and electric utility customers.

Physical gas for Wednesday delivery strengthened in Tuesday's trading as broad gains at most locations combined with outsized advances at eastern and New England points were able to offset losses in the Midcontinent.

With the over-the-top winter playing havoc on natural gas prices and storage, higher prices are needed to encourage more drilling and induce utilities to switch to coal for inventories to refill adequately, analysts said Monday.

Apparently Ol' Man Winter hasn't checked the calendar recently, and while the 2013-2014 winter is technically history, you wouldn't know it from some of the weather forecasts. Spot gas for delivery Tuesday posted a broad advance nationally with few points finding themselves in the loss column. Gains ranged from a few pennies in the Gulf and Rockies to double-digit advances at Great Lakes points to multiple dollar weather-driven gains in New England and the East.

While bullish Canadian financial analysts and stockbrokers project 2013-2014 heating season prices into a rosy future, one of the country's biggest dependents on natural gas revenues is sticking to modest expectations.

Natural gas buyers not wanting to be caught short over the weekend bid prices at most points higher in Friday trading. Outsized advances in the Midwest, New England and the East more than compensated for scattered modest losses in the Gulf Coast and elsewhere.

Spot natural gas prices for Friday delivery on average fell about a quarter in Thursday's trading as winter-weary market participants welcomed the first day of spring with quotes mostly lower across the board.

Physical gas prices for Thursday delivery fell in Wednesday's trading as winter-weary traders and marketers filled out basketball brackets and welcomed the relative quiet of shoulder season trading. On balance, physical prices fell about a quarter Wednesday with Northeast quotes tugging the market lower and Marcellus points giving a push upward.

With Thursday marking the first official day of spring, physical natural gas for Wednesday delivery weakened in Tuesday's trading with quotes down about a quarter on average and nearly all points recording losses. The largest declines were seen in the Marcellus and Northeast, but notable exceptions to the slate of lower reads were a couple points in the Midwest east of a major storm system that pummeled the Rocky Mountains Tuesday and was expected to grind its way into the Great Lakes and Midwest by Wednesday. At the close of futures trading April had retreated 8.0 cents to $4.456 and May was down 6.8 cents to $4.424. April crude oil added $1.62 to $99.70.